! 9 Required information [The following information applies to the questions displayed below.) The December bank statement and cash T-account for Stewart Company follow: Part 1 of 4 BANK STATEMENT Date Checks Deposits Other December 1 December 6 $ 7,680 December 11 610 $ 28,000 December 17 16,900 December 23 37,000 December 26 610 December 30 23,400 19,000 NSF* December 31 Interest earned December 31 Service charge NSF check from J. Left, a customer. Balance $ 55,200 47,520 74,910 58, 010 95, 010 94,400 89, 640 89, 720 89,510 $ 360 80 210 * Cash (A) Debit Balance Credit December 1 55,200 Deposits December 11 December 23 December 30 December 31 28,000 37,000 19,000 14,000 Checks written during December: 7, 680 610 16,900 610 210 23,400 5, 400 December 31 Balance 98,390 There were no deposits in transit or outstanding checks at November 30. Required: 1. Identify and list the deposits in transit at the end of December. (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) $28,000 $37.000 $19,000 $14,000 There were no deposits in transit or outstanding checks at November 30. 9 Required: 1. Identify and list the deposits in transit at the end of December. (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) Part 1 of 4 $28,000 $37,000 $19.000 $14,000 2. Identify and list the outstanding checks at the end of December. (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) $7,680 $610 U$16,900 $210 U$23,400 $5,400 VIU 10 December 30 December 31 19,000 14,000 16,900 610 210 23,400 5, 400 Part 2 of 4 December 31 Balance 98, 390 There were no deposits in transit or outstanding checks at November 30. 3. Prepare a bank reconciliation for December. STEWART COMPANY Bank Reconciliation At December 31 Company's Books Ending Balance Per Cash Account Additions: Bank Statement Ending Balance Per Bank Statement Additions: 0 0 0 0 Deductions: Deductions: 0 0 Up-to-Date Cash Balance $ o Up-to-Date Cash Balance $ 0 11 There were no deposits in transit or outstanding checks at November 30. Part 3 of 4 4. Prepare any journal entries that the company should make as a result of the bank reconciliation. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet A B C D E > Record the interest of $80 received from the bank. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal 11 There were no deposits in transit or outstanding checks at November 30. Part 3 of 4 4. Prepare any journal entries that the company should make as a result of the bank reconciliation. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet Record the service charges of $210 deducted by the bank. Note: Enter debits before credits. Transaction General Journal Debit Credit 2 Record entry Clear entry View general journal 11 There were no deposits in transit or outstanding checks at November 30. Part 3 of 4 4. Prepare any journal entries that the company should make as a result of the bank reconciliation. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet B D E > Record the return of the J. Left check of $360 due to insufficient funds. Note: Enter debits before credits. Transaction General Journal Debit Credit 3 Record entry Clear entry View general journal 11 There were no deposits in transit or outstanding checks at November 30. Part 3 of 4 4. Prepare any journal entries that the company should make as a result of the bank reconciliation. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet Record the checks outstanding at the end of the month. Note: Enter debits before credits. Transaction General Journal Debit Credit 4 Record entry Clear entry View general journal 11 There were no deposits in transit or outstanding checks at November 30. Part 3 of 4 4. Prepare any journal entries that the company should make as a result of the bank reconciliation. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet Record the deposits in transit at the end of the month. Note: Enter debits before credits. Transaction General Journal Debit Credit 5 Record entry Clear entry View general journal utner 12 vate checks Deposits December 1 December 6 $ 7,680 December 11 610 $ 28,000 December 17 16,900 December 23 37,000 December 26 610 December 30 23, 400 19,000 December 31 December 31 NSF check from J. Left, a customer. Balance $ 55,200 47,520 74,910 58, 010 95, 010 94,400 89, 640 89, 720 89,510 Part 4 of 4 NSF* Interest earned Service charge $360 80 210 * Cash (A) Credit Debit Balance December 1 55,200 Deposits December 11 December 23 December 30 December 31 28,000 37,000 19,000 14,000 Checks written during December: 7, 680 610 16,900 610 210 23,400 5,400 December 31 Balance 98, 390 There were no deposits in transit or outstanding checks at November 30. 5. After the reconciliation journal entries are posted, what balance will be reflected in the Cash account in the ledger? 6. If the company also has $360 of petty cash on hand, which is recorded in a different account called Petty Cash on Hand, what total amount of Cash and Cash Equivalents should be reported on the December 31 balance sheet? 5. Balance in Cash Account 6. Total Amount of Cash and Cash Equivalents